Malaysia
Hotline : +603-2141 8908
Cayman Islands' tax-free status has attracted numerous
banks and other companies to its shores. More than 40,000 companies were
registered in the Cayman Islands as of 2000, including almost 600 banks and
trust companies, with banking assets exceeding $500 billion. Large corporations
based in the Cayman Islands such as Semiconductor Manufacturing International
Corporation (SMIC). The Cayman Islands Stock Exchange was opened in 1997.
No direct taxation is imposed on residents and Cayman
Islands companies. The government receives the majority of its income from
indirect taxation. Duty is levied against most imported goods, which is
typically in the range of 22% to 25%. Some items are exempted, such as baby
formula, books, cameras and certain items are taxed at 5%. Duty on automobiles
depends on their value. The duty can amount to 29.5% up to $20,000.00 KYD CIF
(cost, insurance and freight) and up to 42% over $30,000.00 KYD CIF for
expensive models. The government charges flat licensing fees on financial
institutions that operate in the islands and there are work permit fees on
foreign labor. A 13% government tax is placed on all tourist accommodations in
addition to US$25.00 airport departure tax which is built into the cost of an
airline ticket.
There are no taxes on profits, capital gains, income or any
withholding taxes charged to foreign investors. There is no estate or death
duties payable on Cayman Islands real estate or other assets held in the Cayman
Islands.
Tannet Malaysia is an International Consultant Firm based in Hong Kong, Shenzhen. We have over 10 branches located in China and believe Tannet will be your best choice for your ASIA market investment. We provide one stop business solution such as international company registration, global trademark application, company secretarial services, accounting audit and taxation and etc. Please do not hesitate to contact us for more information if you are interested on our other services!
Contact us:
If you have further queries, please contact Tannet.
24 hours Malaysia hotline：603-21418908;
24 hours Hong Kong hotline：852-27837818;
24 hours Shenzhen hotline：86-755-
36990589;
Email: mytannet@gmail.com
TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my